The Dow closed higher for the first time in four days, finishing up 112 points after better-than-expected retail data, which showed sales rising 1.9% in September -- much higher than the anticipated 0.7%. The S&P 500 landed modestly in the black as well, with COVID-19 vaccine news from Pfizer (PFE) boosting the broader market. In the last few minutes of trading, however, a heavy-weighing Apple (AAPL) dragged the Nasdaq into the red. For the week, all three benchmarks posted modest gains, with the Dow and S&P 500 locking in three straight, and the Nasdaq posting its fourth-straight weekly gain.
Continue reading for more on today's market, including:
- Blue-chip drugmaker signals upbeat vaccine sentiment.
- VIPS veers toward bull signal before earnings.
- Plus, KMB struggled to break past former highs; FVRR rose alongside the freelance sector; and the pet stock that moved higher on a bull note.
The Dow Jones Industrial Average (DJI - 28,606.31) rose 112.1 points, or 0.4% today. Caterpillar (CAT) rose to the top of the Dow with a 2.3% win, while AAPL landed at the bottom with a 1.4% loss. For the week, the index rose 0.06%.
Meanwhile, the S&P 500 Index (SPX - 3,483.81) added 0.5 point, or 0.01% for the day, and 0.2% for the week. On the other hand, the Nasdaq Composite (IXIC - 11,671.56) shed 42.3 points, or 0.4% for the day, but tacked on 0.8% for the week.
Lastly, the Cboe Volatility Index (VIX - 27.41) gained 0.4 point, or 1.6% for the day, and 9.6% for the week.
- Ahead of November's presidential election, investors have begun to weigh in on "election-win scenarios." For example, the energy sector has been in the spotlight, with potential shakeups in the oil market. (Marketwatch)
- The U.S. government budget deficit for the fiscal year of 2020 came in at record numbers. (CNBC)
- Kimberly-Clark stock brushes off a brand-new bull note.
- Online platform name skyrockets amid pandemic.
- Rise in pet adoptions pushes CHWY higher.
Gold Notches First Weekly Loss in 3
November-dated crude fell 8 cents, or 0.2%, for the second-straight day to settle at $40.88 a barrel. This slight drop comes amid global coronavirus worries, but was deterred from further losses due to output reassurance from the Organization of the Petroleum Exporting Countries and their allies (OPEC+). However, the commodity still gained 0.7% for the week -- it's second-straight weekly climb.
Gold prices ended lower today, as the U.S. dollar rose in strength. December gold fell $2.50, or 0.1%, to settle at $1,906.40 an ounce for the day. For the week, it fell around 1% to notch its first weekly loss in the last three.
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